Ford’s car assembly plant in Hai Duong (Photo: VNA)
Vietnam’s index of industrial production (IIP) from January to November 2014 increased by 7.5 percent year-on-year, according to the General Statistics Office (GSO).
Significant industrial production growth measuring 11.1 percent in November fuelled the index’s positive rise in the first 11 months of the year.
GSO experts said the processing and manufacturing sector, which made up 76 percent of the country’s total industrial output, had a tendency to increase towards the year-end. The sector achieved an encouraging month-on-month production growth of 11 percent in November and a year-on-year increase of 8.6 percent in 11 months.
Several industrial products recorded high growth, including handsets at 60 percent, automobiles at 28.3 percent, steel at 24.2 percent and leather and footwear at 20 percent, as well as cloth at 15.8 percent and electricity at 12.3 percent.
Other products, however, recorded lower growth such as crude oil at 1.7 percent and coal at 0.4 percent. Some products recorded industrial production declines such as motorcycles by 10 percent, liquid petroleum gas by 7.6 percent and powdered milk by 7.2 percent.
From January to November, the inventory index increased by 10.2 percent year-on-year. Major industries showing higher levels of inventory included pharmaceuticals at 155.4 percent, chemicals at 118.1 percent, food processing at 96 percent and metal production at 87.8 percent.
GSO experts predicted that the inventory index would likely fall next month because of an anticipated rise in domestic consumption.-VNA
Đăng ký: VietNam News